Taxes

/Taxes

Taxes and death are inevitability, but that doesn’t mean you can’t prepare for both! Taxes effect you almost every day in the form of sales tax, every year in the form of income tax and even at death with the estate tax.

What Does the IRS Have to do With an EIN?

A Federal Employee Identification Number (EIN) is a unique number the Internal Revenue Service (IRS) assigns to most types of business entities for tax reporting and filing purposes. IRS-EIN-Tax-ID is an easy and secure way to apply for an EIN online through their secure website. An EIN is required in the following circumstances: You have employees You operate your business as a partnership or corporation You pay excise, alcohol, tobacco, employment, or firearms tax You have a Keogh plan You withhold taxes on revenue, besides pay, paid to a foreign alien You are involved with a trust, estate, IRA, real estate mortgage [...]

By |2018-06-28T19:56:54+00:00June 28th, 2018|Taxes|0 Comments

Fast & Easy EIN Filing with GovDocFiling

The EIN or Employer Identity Number is a unique nine-digit fingerprint of your business. It is usually used when reporting taxes on your company’s employment. You can apply for EIN online, as well as by mail or phone. Regardless of the type of your business, you need to have your own EIN as long as you have employees. An EIN works similarly to the personal Tax ID Number (TIN). This will be your unique number to be used for legalities, contracts or financial transactions. Filing the EIN If you are starting a business, filing the EIN should be the first on your [...]

By |2018-06-20T16:18:12+00:00June 13th, 2018|Taxes|2 Comments

10 Smart Ways to Spend Your Tax Refund

Over 40 million people received a tax refund this year, with the average refund totaling over $3,000. It’s all too easy to let that check burn a hole in your pocket and blow it on unnecessary purchases. And car dealerships, electronics stores and retailers take advantage of this time of year and offer special sales to tempt you into their doors. But remember, this money isn’t a bonus.  How you spend your tax refund could have significant impacts on your financial future if you make a good habit out of it. It’s money you earned throughout the year; getting a refund just [...]

By |2016-05-11T18:19:19+00:00May 11th, 2016|Taxes|0 Comments

Business Deductions: Hire an Expert to Save you Money

Most entrepreneurs don’t get into business in order to give away money, yet each year there are thousands of business owners that do. How you ask? By taking on the challenge of managing their own finances and paying their own taxes. Though many entrepreneurs think it’s seemingly the best way to save money (not hiring an accountant), it can actually result in you flushing money down the drain each year. Uncle Sam certainly isn’t going to reach out to you and let you know, “Hey, I think this money belongs to you.” Therefore, you need to learn how to maximize your earnings [...]

By |2017-05-03T22:43:06+00:00April 23rd, 2016|Taxes|1 Comment

Preparing to Meet My Accountant

For the past 7 or 8 years I have used an accountant to prepare my taxes.  The reason I switched over from turbo tax or some other do it yourself method was because when I got married The Wife's taxes were a little bit more complicated.  Before I got married all I had was a small W-2 income and my student loan deductions...ah the easy days! Then I went ahead and got married, The Wife, was and still is, an independent sales representative (1099 income).  I figured for the cost of using a certified public accountant I would get the money back [...]

By |2016-02-08T21:52:08+00:00February 4th, 2016|Taxes|1 Comment